CARY, Ill., Dec. 13, 2012 (GLOBE NEWSWIRE) -- Madison Dearborn Partners announced today that it has completed its previously announced purchase of Sage Products Inc., a leading healthcare products manufacturer with expected 2012 sales revenues of approximately $290 million. Sage employs more than 700 associates and maintains a portfolio that includes innovative infection prevention and patient safety products for the entire healthcare continuum. Sage's existing management team will continue to own a significant portion of the company.
Sage will continue to operate under the same name while providing the same high quality products and exceptional service its customers have come to expect. Vincent Foglia will remain Chairman of the Board. D. Scott Brown, a 31-year Sage veteran, has been named Chief Executive Officer and Vice Chairman of the company. Sage will continue to be headquartered in and operate from its Cary, Illinois facility.
Madison Dearborn will work with Sage's leadership team to capitalize on what they believe are numerous and attractive growth opportunities for the company worldwide. These include helping Sage increase its penetration within the U.S. hospital market, expand its presence internationally and continue to develop and bring to market innovative products.
During the acquisition process, Evercore Partners served as Sage's financial advisor while Madden, Jiganti, Moore & Sinars LLP and Winston & Strawn LLP provided the company with legal counsel. Barclays Plc led the debt financing related to the transaction along with Bank of America Corp., Citigroup Inc. and Deutsche Bank AG. BofA Merrill Lynch served as financial advisor and Kirkland & Ellis LLP provided legal counsel to Madison Dearborn. No additional terms of the sale were disclosed.
For more information, please contact:
Madison Dearborn Partners
The Abernathy MacGregor Group
About Sage Products
Since 1971, Sage Products has developed innovative healthcare products trusted by healthcare facilities worldwide. Sage has a core belief in prevention -- that simple, evidence-based interventions will yield extraordinary outcomes. The company's goal is to help improve patient safety and outcomes by preventing skin breakdown, healthcare-associated pneumonias, surgical site infections and other adverse events. Industry-leading brands include Q-Care® Oral Care, Sage® 2% Chlorhexidine Gluconate Preoperative Skin Preparation Cloths, Comfort Bath® Prepackaged Bathing, Comfort Shield® Incontinence Care Cloths, Prevalon® Pressure-Relieving Heel Protection, and the Prevalon® Turn & Position System. More information is available at www.sageproducts.com.
About Madison Dearborn Partners
Madison Dearborn Partners, based in Chicago, is one of the most experienced and successful private equity investment firms in the United States. Since Madison Dearborn's formation in 1992, the firm has raised six funds with aggregate capital of over $18 billion and has completed approximately 120 investments. Madison Dearborn invests in businesses across a broad spectrum of industries, including healthcare; basic industries; business and government services; consumer; financial services; and telecom, media and technology services. Its noteworthy investments include Sirona Dental, Team Health, VWR International, CDW, Fieldglass, MetroPCS, Nuveen Investments, TransUnion, and Yankee Candle. For more information, please visit www.mdcp.com.
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Source:Sage Products Inc.